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Special Certificates

Special Certificates are designed to earn an enhanced yield.  Certificates are issued with one or more call dates and range from fixed rate/fixed term, callable or step-up CDs. 

Certificates are issued in amounts of $100,000 or greater, subject to availability.  When the certificate matures or is called by Corporate America, principal and dividends are credited to your Corporate Funds account.  Dividends will be paid quarterly or semi-annually. The certificates will pay on a Actual/360-day basis and dividends will be automatically credited to your Corporate Funds account.  Original maturities typically range from two to three years and up to five years.

Per Reg 704.8(c), a corporate credit union that permits early certificate/share withdrawals must assess market-based penalties sufficient to cover the estimated replacement cost of the certificate redeemed. This means the minimum penalty must be reasonably related to the rate that the corporate credit union would be required to offer to attract funds for a similar term with similar characteristics. 

For more information please contact our Member Investments Group at (205) 313-4300 or (800) 292-6242 ext. 8160 or 8163 or   

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